Another day and another rasher of bad news for Eike Batista, the Brazilian grandstander billionaire whose aim is to dethrone Carlos Slim as the world's richest man on Forbes' World's Billionaires list. Investors continue to sell off stocks of Batista's public traded companies, especially those of his flagship oil company, OGX Petroleo e Gas Participacoes.

Things got even worse after the Rio de Janeiro-based OGX released its third quarter financial results, showing losses of R$399 million ($197 million), down from a loss of R$122 million in the same quarter last year. Blame falls on the weaker Brazilian real against the dollar and losses from dry wells.

The loss for the first half of the year is reported at R$543 million ($268 million), compared with a loss of R$151 million in the first six months of 2011. OGX says it has a cash balance of R$5.9 billion ($2.91 billion), which is enough, according to the company, to fully fund its projects.

In the meantime, Brazilian consultancy Economatica is reporting that the market value of Batista's seven publicly traded companies has declined from R$63.1 billion ($31.15 billion) in December 2011 to R$38.6 billion ($19.1 billion) as of yesterday, with a combined net loss of R$1.15 billion ($568 million) since January 2012. In 2011, the losses of all his companies totaled R$1.02 billion.

Batista recently announced he has intentions to delist his logistics company LLX Logistica SA, whose shares lost 80% of their value since 2010, as a result of investors' fading confidence in his businesses. He is said to be considering delisting other companies as well.

Truth be told, Batista is not the only one facing difficulties these days in Brazil. The country's currency depreciation of about 11% against the dollar over the second quarter resulted in financial losses across many Brazilian companies.

Batista was listed by Forbes last March as the world's 7th richest man, with an estimated $30 billion net worth. He has since lost more than 50% of his wealth, although he continues to state otherwise, saying he didn't sell any shares and, as a result, didn't lose any money.

But not everybody is disappointed at Batista. Thor Batista, the billionaire's son and an avid user of Twitter (just like his father), ran to the microblog to send a "message" to those selling OGX's shares. "You're all wrong," he wrote. “Don’t ever short an X company, we have a good team.”

And in spite of many people’s decreasing confidence in Batista, he keeps very certain of himself. "If the market doesn't want me, I want me," he told Veja magazine last month.